GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2003
SESSION LAW 2003-405
HOUSE BILL 1241
AN ACT TO DELAY THE REiNSTATEMENT OF THE twenty percent UNEMPLOYMENT INSURANCE SURTAX.
SECTION 1. G.S. 96-9(b)(3)j. reads as rewritten:
"j. A tax
is imposed upon contributions at the rate of twenty percent (20%) of the amount
of contributions due. The tax is due and payable at the time and in the same
manner as the contributions. The tax does not apply in a calendar year if, as
of August 1 of the preceding year, either of the following conditions was
met: (i) the amount in the Reserve Fund equals or exceeds one hundred sixty-three
million three hundred forty-nine thousand dollars ($163,349,000), which is one
percent (1%) of taxable wages for calendar year 1984.1984, or (ii)
the balance in the Unemployment Insurance Fund established by G.S. 96-6(a) is
five hundred million dollars ($500,000,000) or less. The collection of this
tax, the assessment of interest and penalties on unpaid taxes, the filing of
judgment liens, and the enforcement of the liens for unpaid taxes is governed
by the provisions of G.S. 96-10 where applicable. Taxes collected under this
subpart shall be credited to the Employment Security Commission Reserve Fund,
and refunds of the taxes shall be paid from the same Fund. Any interest or
penalties collected on unpaid taxes shall be credited to the Special Employment
Security Administration Fund, and any interest or penalties refunded on taxes
imposed by this subpart shall be paid from the same Fund."
SECTION 2. This act is effective when it becomes law. This act is repealed for taxes imposed in the 2005 and subsequent calendar years.
In the General Assembly read three times and ratified this the 19th day of July, 2003.
s/ Beverly E. Perdue
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ Michael F. Easley
Governor
Approved 11:20 a.m. this 12th day of August, 2003